ARMS Top Investor Seeks to Regain Control of Indonesia-focused Miner
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|Asia Resource Minerals said on Tuesday, its top shareholder, Indonesian businessman Samin Tan, is trying to regain control of the struggling coal miner by seeking to appoint directors to the board that support him. Asia Resource Minerals, formerly known as Bumi, has been hit by internal battles and a plunge in coal prices. He has been considering the sale of assets including all or part of his stake in the company to help repay banks Standard Chartered and Raiffeisen close to $1 billion.
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